Aehr Test Systems Stock Rises After Record Bookings in First Quarter of Fiscal 2022
Sep 24, 2021 By MarketDepth
Aehr Test Systems (NASDAQ: AEHR) stock jumped about 37% after the Company announced financial results for its first quarter of fiscal 2022 ended August 31, 2021. The Company also raised its revenue guidance for fiscal 2022 by approximately 80% to at least $50 million. Net sales were $5.6 million, up 181% from $2.0 million in the first quarter of fiscal 2021.
Testing for Semiconductor Industry
Aehr Test Systems primarily designs, engineers, manufactures, and sells test and burn-in equipment for use in the semiconductor industry in North America, Asia, and Europe. The company offers Advanced Burn-in and Test System family of packaged part burn-in and test systems, which perform test during burn-in of complex devices, such as digital signal processors, microprocessors, microcontrollers, memory and systems-on-a-chip, as well as individual temperature control for high-power advanced logic devices.
“We are off to a strong start for fiscal 2022, finishing the first quarter with record bookings for a single quarter of $20.7 million. Since the end of the quarter, we have announced an additional $19.4 million in bookings, bringing our total bookings for the fiscal year to over $40 million as of today’s date.”Gayn Erickson, President and CEO of Aehr Test Systems
“Our strong bookings include several sizable orders received over the past few months from our lead silicon carbide test and burn-in customer for our FOX-XP™ systems and WaferPak™ Contactors to support testing of silicon carbide power devices for electric vehicles. Each of these silicon carbide-focused FOX-XP systems is configured to test eighteen silicon carbide wafers in parallel in the footprint of a typical single wafer test solution, while contacting and testing 100% of the devices in parallel on each wafer. This Fortune 500 customer is a major automotive semiconductor supplier, and we continue to work closely with them to achieve their test and burn-in requirements and capacity needs.”
Profitable with New Guidance
Aehr Test Systems also provided guidance for the fiscal year ending May 31, 2022. Aehr is raising its previously provided guidance for full year total revenue of greater than $28 million by approximately 80% to at least $50 million, which is over three times the previous fiscal year’s revenue. The Company expects to be profitable for the fiscal year at these revenue levels based upon its operating model.